01 Jul Dax launches ahead of US employment report
The positive development on the New York Wall Street pleased Dax investors on Friday. The German leading index starts clearly in the plus: 0.68 percent goes it shortly after trade start up to 13.257 points.
The record hunt on Wall Street is also pleasing to the German stockbrokers: In the first few minutes of trading, the Dax sets for the weekend spurt. 0.68 percent goes up shortly after the trade open to 13.257 points. Since the slide up to 12,745 points at the beginning of the year, the stock market barometer has already recovered by almost 4 percent. On Thursday, the German leading index closed 1.5 percent higher at 13,167.89 points.
The MDax of mid-sized companies gained 0.27 percent to 26,821.98 points, while technology index TecDax barely moved by plus 0.02 percent to 2622.97 points. The Eurozone leading index EuroStoxx 50 was moderately positive.
“The euphoria is back,” said portfolio manager Thomas Altmann of financial advisor QC Partners. “The mood on the stock markets at the beginning of the year could not have been better.” The US standard index Dow Jones had hit the 25,000 mark for the first time on Thursday.
Additional support promised stockbrokers from the US labor market data in the afternoon (CET). Analysts surveyed by Reuters expect December to build 190,000 jobs outside agriculture. But more important is the development of wages, said analyst David Madden from online broker CMC Markets. “If the US economy wants to go up a gear in terms of growth, wages and thus purchasing power have to rise faster.” Experts expect a plus of 0.3 percent.
Amongst other companies, Hella’s shares were in demand, rising by 4.6 percent to 54.65 euros. The analysts of JPMorgan raised their target price for the title of auto parts supplier to 59 from 42 euros.
On Thursday, surprisingly strong data from the private employment agency ADP lifted the US standard index Dow Jones above the 25,000 mark for the first time. After the stock market closed in Germany, the US indices barely moved. The Dow Jones ended the session 0.6 percent and the Nasdaq 0.2 percent higher. The S & P500 rose 0.4 percent.
In Tokyo, the Nikkei index rose 0.9 percent on Friday to reach 23,715 points. The Chinese Shanghai Composite rose 0.3 percent to 3395 points.